Here's my build
$55 Pi 4 (4gb)
$8 Official USB charger
$25 Argon One case (could also get acrylic + ICE tower)
$10 microSD card
$12 Sata to usb adapter
$40 Kingston 240gb SSD (we can't do over 500mb/s anyway)
$120 Total
You get a significant performance boost switching to a 64-bit OS. aarch64 has better SIMD guarantees, hardware AES (over 10x faster), double the registers, and generally more optimizable due to the more streamlined ISA. I haven't tested it yet, but in-memory compression could potentially help with the 4gb RAM limit.